Community Broker Network (CBN), one of Australia’s largest general insurance authorised representative (AR) networks, has extended its operations into New Zealand through the acquisition of Folio’s broking network business.
The deal separates Folio’s technology and broking divisions.
Folio will retain its technology platform and development functions under the existing brand, while the broker network will now operate under a new banner – CBN NZ.
This development allows both organisations to concentrate on their respective specialisations:
Folio co-founder and head of technology Roneel Kumar said the transaction enables the firm to channel resources toward its core focus – developing digital tools for brokers.
“This agreement allows us to double down on that vision, focusing entirely on delivering the most intelligent, intuitive broker platform in the market. At the same time, we know our broker community will be well-supported by CBN, whose scale and experience make them an ideal partner for this next chapter,” he said.
The existing broking leadership team, including Alistair Monk, will remain in place to oversee operations under the CBN NZ name.
The business will continue to function locally, supported by CBN’s broader infrastructure and resources.
Richard Crawford, CEO of Community Broker Network, said the move was in line with the group’s strategy to strengthen its broker support capabilities while enabling technology partners to innovate independently.
“Folio has built a strong network of brokers, supported by innovative technology. With this partnership, CBN can focus on growing and supporting that broker network, while Folio accelerates its platform development. The timing is right – the market needs it, and we’re ready,” he said.
CBN is a member of the Steadfast Group and supports more than 340 AR businesses across Australia.
The network includes over 900 authorised individuals offering general insurance services in regional and urban centres.
The acquisition is intended to replicate CBN’s existing model in a new market by building operational capability rather than expanding purely in size.
The transaction has received support from Steadfast New Zealand, which played a role in facilitating the acquisition.
CBN and Folio have confirmed that the network will maintain a “business-as-usual” approach during the transition, with ongoing local service delivery.
CBN’s market entry coincides with recent data pointing to New Zealand’s continued position as one of the least complex jurisdictions for business operations globally.
In the Global Business Complexity Index (GBCI) 2025, New Zealand ranked 77th out of 79, indicating a low level of operational difficulty compared to other countries. Hong Kong ranked just above it at 76th.
The report, released by TMF Group, highlighted New Zealand’s regulatory transparency and openness to foreign investment as key strengths.
These factors are increasingly relevant for insurance networks and service providers exploring trans-Tasman or regional growth.
